Wills should be reviewed regularly

The importance of keeping wills up to date has been highlighted by one person from Cheshire, who wrote to This is Money to ask for advice after a legacy left him or her facing a number of issues.

Changes in circumstances were not reflected in the will of the individual's father-in-law, meaning only four of their five children were named in the document and one was left a house that had long-since been sold.

Expert Christopher McNeill, who responded to the letter, stated that "the whole point of writing a will is to leave a solution and not a problem".

Other issues facing the Macclesfield writer included one of the children receiving a plot of land that is far more valuable now than it was when the will was written due to it having a house on it and the fact that £85,000 is going to have to be found to settle inheritance tax issues.

There have been rumours in recent weeks that the 2002 will left by pop star Michael Jackson may not be the most up-to-date document detailing his legacy and that a modified version may have been written nearer to his death last month.



Published on: July 9, 2009

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